He shared that as new features have been added to meet the demand of current buyers and this will certainly increase the cost of the car, the value-for-money (VFM) quotient will only get stronger. The new Baleno will sport SIM-based connectivity, customizable heads-up display (HUD), 360-degree camera, Alexa integration and a larger touchscreen infotainment system among other new features. This will push the car’s position towards the upper end of the premium hatchback segment and bring it closer to the Hyundai i20.
Srivastava said that beyond the technical changes, the design has also been given a makeover and hence the new tagline is ‘Tech Goes Bold’.
Traditionally, the Baleno has been the best selling car in the premium hatchback segment. It achieved the 1 million sales mark within six years of its launch (fastest for any car in India) and has been selling around 14,000 units per month on an average over the past few months. With the new Baleno, Srivastava expects this number to go up but he said it is too early to make an accurate estimate about it. However, he mentioned that the premium hatchback segment is currently the largest segment in the passenger vehicle segment in India and is expected to perform strongly in the times to come. The segment has a share of around 23% in the total passenger vehicle market in the financial year 2020-21.
When asked whether Baleno’s new technologies will first be introduced in Nexa cars or the Arena model as well, he said options are open for both. He said that customers from all segments are getting aspirational and demanding new features. As a result, they are willing to pay for new technologies as long as they are assured of the price being offered. If an Arena model has a generation change or a major change, these features may be introduced in that model before all Nexa models.
We also asked Srivastava about the possibility of a sunroof in the Maruti Suzuki model and he did not rule out the possibility. He mentioned that the company will continue to look at the features consumers demand and balance them against the value they offer. As long as the balance is achieved, the company is poised to offer new features while maintaining Maruti’s VFM offering with the premium experience of the Nexa retail channel.
He concluded the conversation by telling us that the semiconductor shortage situation is steadily improving. As a result, the company is poised to meet the demand in the initial months and in the times to come. This statement should come as a huge relief to the buyers as they hope that they do not have to wait too long to get their new Baleno as the booking numbers are already flying high!
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